Another funder recently approached us with a client who needed a Development Finance facility valued at slightly less than £500,000, which was below their minimum available threshold.
Our flexibility and owner-managed business style allowed us to quickly secure the funding they needed to complete the ambitious project.
The borrower was an experienced developer with a site in the Scottish Highlands, on which they were building two specialist holiday homes.
After reviewing the plans, designs, and previously completed work from the developer, it was clear that these holiday homes were going to be of an exceptional quality in prime, enviable locations for holiday makers.
The developer had started the project entirely self-financed, but they required a funding solution of £465,000 to complete the project, which has a Gross Development Value of £820,000.
Our flexible approach meant that we were able to provide the full facility to the borrower at a rate of 0.9% per month in staged drawdowns. This provided them with the funds they needed to finish the project within their own expected timeframe.
Additionally, with the help of a specialist broker close to Acuity Finance, we were able to organise the repayment of the loan through a holiday let mortgage. This was due to the client’s intent to rent out the property to holidaymakers for much of the year.
We are the go-to specialists when it comes to flexible, structured financial solutions.
Our owner-managed business style and close working relationship with our clients helps us find the perfect solution for them, be it bridging finance, invoice finance, or cash-flow and business growth.